From the Quarterly. HIGHLIGHTS  Positive industry engagement...

From the Quarterly.

HIGHLIGHTS

 Positive industry engagement with government on key legislation – progress on MPRDA Amendment Bill and licence application process anticipated soon.

 Minister of Mineral Resources, Mosebenzi Zwane, addresses community gathering in the Karoo, states that “…government, based on the balance of available scientific evidence, took a decision to proceed with the development of shale gas in the Karoo formation of South Africa”  Minister of Finance, Pravin Gordhan, states in February 2016 Budget speech that “Building on the success of our Renewable Energy initiatives, the Independent Power Producers Programme will be extended to include coal and gas power projects over the period ahead. “


 Power tariff to rise by 9.4% for 2016/17 after regulator allows state power utility Eskom a partial claw back of R22.8 billion of costs it applied for (primarily related to diesel consumption and reduced revenue).

 South African media reports that the regulator expects to make its recommendations to the Minister of Mineral Resources on the first two shale gas exploration rights applications, including Bundu’s, by early May.

 Capital raise completed to raise $900,000 before associated costs.


If the South African media reports had any substance I would imagine the share price wouldn't be languishing so low. Then again the rumors don't mention May of which year (?).